From Our Special Correspondent
Daijiworld Media Network

Bengaluru, Feb 9: Karnataka and the American Chamber of Commerce in India (AMCHAM India) have signed an agreement to further deepen ties in the technology field in a clear demonstration of commitment to bilateral relationship.

The Karnataka Innovation And Technology Society (KITS), which comes under the IT&BT department, signed the agreement on behalf of the Karnataka government.

IT&BT minister Priyank Kharge said the agreement opens new opportunities for both countries, working at the intersection of academia and industry.

“The expertise and future developments are focused to place Karnataka on the global platform among leaders in electronics, Information Technology (IT) and Biotechnology. The government of Karnataka has taken many policy initiatives while working in consultation with industry and academia leaders,’’ the minister said.

The new pact seeks to encourage and stimulate investment by US companies in India, support ongoing business operations of its members and encourage bilateral trade between the US and India. Besides, it is expected to fast-track collaborative initiatives with resources available in both countries.

KITS and AMCHAM India have agreed to constitute a Joint Programme Steering Committee (JPSC) to oversee the pace and progress of actions.

The JPSC is expected to meet face to face or via video-conferencing once every three months and will be responsible for submitting an annual report based on the performance of the execution of the programs.

Minister Priyank Kharge said the trade pact is the major among many more which are in the pipeline, and such agreements will bring technology partners -- US and Karnataka – even closer in the coming years.

“The agreement will identify and address common challenges as well as foster collaborations to support innovation and drive the IT, BT, and ESDM ecosystem forward,” the minister added.